The President of the United States has announced that Washington and Tehran have signed a preliminary agreement to extend the ceasefire and reopen the Strait of Hormuz.
U.S. President Donald Trump said that a preliminary agreement between the United States and Iran has been signed. According to the agreement, the temporary ceasefire declared in April will be extended for another 60 days, and maritime traffic through the Strait of Hormuz will resume.
Trump, who is in France to attend the Group of Seven (G7) summit, said that the official signing ceremony will take place next Friday in Geneva, Switzerland.
Meanwhile, Iran’s President Masoud Pezeshkian described the memorandum as an important step toward reducing tensions, but emphasized that a final agreement for lasting peace has not yet been reached.
U.S. Vice President J.D. Vance also stated that the text of the agreement is very general and that further details will be released in the coming days.
Following the announcement of the agreement, global oil prices fell to their lowest level in three months.
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